Money Myths That Cost You: Separating Financial Fact from Fiction

Join our weekly #CreditChat, launched in 2012 to help our community strengthen their understanding of credit and key personal finance topics such as saving, managing debt, and building healthier credit scores. Hosted by @Experian on X (formerly Twitter), the conversation is open to everyone—feel free to DM us with any questions.

This week’s #CreditChat tackles some of the biggest money myths that can hold you back financially. We’ll separate fact from fiction on topics like credit, debt, saving, and budgeting. Join us to make smarter financial decisions based on facts—not misconceptions.

Topic: Money Myths That Cost You: Separating Financial Fact from Fiction

When: Wednesday, August 26, 2026

Where: Join the live hashtag discussion

The panel will include: Nika Booth: Award-winning debt expert and founder of DebtFreeGonnaBe.com; Felicity Watts: Author at American Consumer Credit Counseling; Kembala Evans: Financial Coach, author, speaker and founder of Kembala.com; Angel Radcliffe: Financial Educator, Leadership Advisor, and Founder of Leading Beyond Limits; Raya Reaves: Founder and Finance Coach of City Girl Savings, LLC; Gina Young, MBA: the creator of Money Savvy Living; Jennifer White: Consumer Education and Advocacy Team, and Christina Roman: Sr. Consumer Education and Advocacy Manager at Experian.

Questions we will discuss:
1. What’s one money “rule” or piece of financial advice that sounds smart, but can actually cost people money?

2. With financial advice coming from social media, influencers, friends, and family, how can consumers tell which money tips and trends are credible, and which deserve more scrutiny?

3. What financial misconception tends to become more believable during uncertain economic times?

4. Credit scores are surrounded by myths. What’s one misconception about building or protecting credit that you wish more people understood?

5. What misconception about saving or investing can get in the way of long-term financial progress?

6. What money belief can prevent people from taking action because they think they’re “not ready” yet?

7. What’s something people think they have to give up to become financially secure that isn’t necessarily true?

8. What financial habit gets a lot of attention but may not make as much difference as people think?

9. What misconception do people tend to defend most strongly when you challenge it?

10. If you could permanently retire one money myth, what would it be? What should people understand instead?

Check out our complete list of upcoming personal finance Twitter chats here.